Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. A homebuyer’s guide to a competitive housing market. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. Scenario 2: Your home appraisal comes in low.

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Earnest money deposit Seller concession Loans Lending 458

Housing Wire

JANUARY 24, 2022

That was the startling and totally hypothetical analogy made, based on the current structure of the Appraisal Foundation , in a scathing report released this week. Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote.

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Housing Wire

FEBRUARY 18, 2022

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value. ” Amazing, right? ” Amazing, right?

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Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic. Scott Murphy, CEO of D.S.

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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. An appraisal is a valuation of a property by a third party.

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Housing Wire

APRIL 13, 2021

Austin, Texas might be the hottest housing market in the country. 1 city in population growth for the last eight years and it was the hottest job market in 2019 and 2020, according to the Wall Street Journal. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap.

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HomeLight

OCTOBER 26, 2023

People looking to sell their homes often encounter two terms that both try to convey the value of their house: market value and appraised value. We’ll pair your answers to a few questions with housing market data from multiple trusted sources for a real-world estimate in under two minutes. Want a Peek at Your Home's Value?

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Housing Wire

APRIL 30, 2022

Analyzing Comps can be a pain point for both the client and the appraiser. Neither goes inside the comps, and the data that’s generally available for these comparable properties is often scarce, incomplete, or inaccurate and much is provided from a person with a direct interest in the sale.

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Housing Wire

MARCH 8, 2024

In return, Hometap receives an agreed-up percentage of the sale price or current appraised value. “We The market for home equity investment is still small, with the estimated investment volume from players in the market to be around $2 billion and $3 billion. One is through the market that we’ve approached.

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Housing Wire

APRIL 26, 2022

The watchdog agency will also be working with other federal agencies to intervene in policies and regulation that could impact mortgage lenders and residential appraisers. Automated valuation models rely in large part on past sales, which would include valuations impacted by past racist housing policies.

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Mortgages Banks Lending Residential 384

Keeping Current Matters

JUNE 29, 2021

In today’s real estate market, low inventory and high demand are driving up home prices. Shawn Telford, Chief Appraiser at CoreLogic , elaborates : “The frequency of buyers being willing to pay more than the market data supports is increasing.”. That’s more than double the percentage in each of the two previous Aprils.

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HomeLight

FEBRUARY 15, 2024

So when it’s time to sell your home, you might be asking: Can you sell a house for more than the appraised value? In this post, we’ll share helpful insights about home appraisals, appraisal gaps, and how these figures play into your selling and pricing plans. Get Estimate What is a home appraisal, and how does it work?

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Housing Wire

JUNE 4, 2021

Austin is still the nation’s hottest housing market, as tech workers continue to flock to the Lone Star State’s capital. Homes are staying on the market an average of 24 days, Redfin reported. The jumbo market for brokers is back in a huge way. The median Austin home-sale price in the Texas capital increased 42.3%

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Housing Wire

NOVEMBER 28, 2023

Through the acquisition, ASG hopes to modernize the appraisal industry by providing innovative valuation products and solutions and complete new property data reports required by government-sponsored enterprises (GSEs). Terms of the ASG-Value Acceptance deal were not disclosed.

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Housing Wire

MARCH 18, 2024

As part of our overall mission to digitize the housing continuum, ICE is marrying technological innovation with our vast data assets to bring transparency and accuracy to a complex, often confusing market.” Consumers will supplement their requests with pictures of the property.

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Technology Inspection Investor Mortgages 420

Realty Biz

JANUARY 4, 2024

One of the more researched topics in real estate is appraisals. Whether you are buying or selling a home, it is essential to have a firm grasp of home appraisals. From nearly forty years of experience as a Realtor, buyers and sellers should have at least a basic understanding of real estate appraisals and what they entail.

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Keeping Current Matters

JANUARY 26, 2021

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Home Appraisal.

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Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. Home Appraisal.

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Housing Wire

OCTOBER 1, 2022

The real estate market has shifted, and we are in a new housing paradigm. However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. However, in many areas of the country it does remain a seller’s market. Historically 2.5

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Realty Biz

OCTOBER 13, 2021

But many have found that the tactic of making an aggressive bid to beat out other offers backfires, as the appraised value of the home falls well below the agreed price. Mortgage lenders will typically only lend the amount to cover the appraised value of the home, as opposed to what the buyer might think it’s worth. markets today.

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Housing Wire

JUNE 22, 2021

These are the words real estate agents use when asked to describe the current state of the market and what it’s like to buy a home today. Buyers are facing unprecedented challenges, they say, due to a confluence of housing market conditions: Pricing. The post Is this housing market affordable for the average shopper?

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Real Trends

SEPTEMBER 20, 2023

One of the final hurdles to clear is the appraisal , and it has the power to leave a deal dead in the water. What is a real estate appraisal? A real estate appraisal is the assessment of a property’s value. Appraisals are required for homes financed with any type of mortgage. Why are appraisals important?

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Realty Biz

NOVEMBER 28, 2023

The home appraisal can be a major source of stress for homebuyers. Buyers have little to no control over it and are legally prohibited from trying to influence the appraisal. However, an unfavorable or error-ridden appraisal can sink the entire sale. That’s not true — what’s illegal is trying to influence the appraisal.

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Realty Biz

OCTOBER 20, 2023

However, amidst the excitement of finding the perfect property, there's a crucial step that many homebuyers might overlook or not fully understand - the home appraisal. In this article, we will take a closer look at why homebuyers might need a home appraisal and how this process can play a pivotal role in the real estate transaction.

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Housing Wire

JULY 7, 2023

The fix-and-flip market has seen a boom in recent years, with more than 407,000 homes flipped in 2022, a 14% increase from 2021 and a 58% increase from 2020, according to a recent report by real estate data firm ATTOM. ATTOM reports that one in 12 home sales last year — 8.4% — involved fix-and-flip investors.

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Realtor.com

OCTOBER 11, 2021

The gulf between contract prices and appraised values highlights the risks to buyers in the current market, especially those stretching their budgets to win a bidding war. The post Soaring Home Prices Are Roiling Appraisals and Upending Sales appeared first on Real Estate News & Insights | realtor.com®.

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McKissock

JULY 23, 2021

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value. USPAP Standards Rule 1-2 (c) requires the appraiser to identify the type and definition of value.

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HomeLight

AUGUST 21, 2023

It’s natural to feel uneasy when the home appraiser shows up at your house. After all, there’s a lot riding on your home’s appraised value. If your appraisal comes out lower than you planned, it could end up delaying or disrupting your home’s sale. What’s the purpose of a home appraisal? Who is the appraiser?

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Purchase and sale agreement FHA loan Residential Loans 98

Realty Biz

JULY 11, 2022

One of the vital discussions you will probably have with your real estate agent is surrounding the real estate appraisal. Your agent will likely advise you to either add an appraisal contingency or waive it depending on the type of real estate market that presently exists. Add or Waive an Appraisal Contingency.

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McKissock

JULY 27, 2021

As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. To find out, we asked appraisers, “What’s your top tip for defending your work when the appraised value comes in under sales price? ” Here’s what they said.

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McKissock

MAY 26, 2023

How can you bolster your appraisal business during a slow real estate market? This month we asked our appraisal community, “What’s the BEST way to survive a slow market as an appraiser?” What’s the BEST way to survive a slow real estate market? Read the full survey results below.

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HomeLight

NOVEMBER 1, 2021

If you’ve received an exceptional offer on your home and the appraisal comes in unexpectedly low , don’t throw in the towel. The official appraised value of your home is based on the appraiser’s professional opinion and even professionals sometimes make mistakes. If your home appraisal has come in low, you’re not alone.

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HomeLight

OCTOBER 24, 2023

Whether you’re a first-time seller or a seasoned pro, the appraisal process used to determine your home’s fair market value can be a little intimidating. Lenders require the appraisal to ensure they’re not loaning the buyer more money than the value of the home. All an appraiser is, is a glorified reporter.

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Broke Agent Media

MARCH 1, 2023

Fannie Mae states it is “transitioning to a range of options to establish a property’s market value.” Home appraisals have long been an issue of debate within the real estate industry. The good news is Fannie Mae is working to eliminate discrepancies that can occur with traditional appraisals.

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Realty Biz

DECEMBER 29, 2022

Bias in real estate appraisals is an unfortunate reality that many marginalized communities and people of color continue to deal with to this day. A 2020 study based on 12 million appraisals found that the racial composition of a neighborhood shaped housing values far more in 2015, and than in the 1980s. In fact, 12.5%

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HomeLight

AUGUST 26, 2020

Now you’re confused because you need a refinance appraisal, but you just got a purchase appraisal before being approved for a mortgage — is there a difference between a refinance appraisal vs. purchase appraisal? Refinance appraisal vs. purchase appraisal: What’s the difference? What do appraisers look for?

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Fixed-rate mortgage Equity Loans VA loan 144

McKissock

JANUARY 31, 2023

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input! ” “The definition of market value.”

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